The use of data and the understanding of digital algorithms has become one of the ways that companies get a marketing edge to beat their competition. Thanks to these tools available to us, businesses can gather relevant information about their customers. They can use this information to create content that generates traffic. But does this data result in high conversion rates?
According to George Bryant, the truth is that 99% of firms use algorithms to close sales. Which on a high-converting funnel you’re looking at about a 3% conversion rate to cold audiences. Meaning they’re burning the relationships of about 97% of the potential customers who see their funnel. And that’s for a high-converting offer.
Therefore, these companies are optimizing their systems to get the one or two customers who are ready to buy right now… but the worst part about this is once they make the sale, they struggle with how to retain the few customers that they have attracted.
George Bryant is a New York Times Bestselling author and among the most sought after digital marketing consultants. Bryant’s business tagline states that Relationships Beat Algorithms™. He has helped hundreds of the largest companies in the world to ethically scale their businesses by deepening their relationships with their customers and out caring their competition.
Read on to learn how relationships can help you create raving fans who buy for life.
The Power of Relationships in Marketing
To Bryant, relationships are the best approach towards creating raving fans who buy for life. Relationships beat algorithms because, at the end of the day, people are people. Today’s customers want a company that seeks to establish a connection with them. Customers no longer trust brands. Therefore, if your algorithms reveal to you that 150 potential customers have visited your Instagram page, then you have to be aware that those 150 people are strangers. It’s your job to reach out to them from the point of trying to establish a connection instead of a position that communicates, ‘I’m trying to sell something to you.’
Enterprises need to approach marketing as a means of creating a 2-way value-based relationship with your customers, your team, and yourself. Surface-level marketing or transactional marketing quickly leads to loss of trust & ultimately forces companies to go out of business. It’s no wonder that a high number of people are using ad blockers on YouTube, and it’s because people can sense when you are trying to sell to them.
If you want to turn your customers into raving fans, then you need to out care your competition. This is a strategy that requires you to understand the pain points of your target audience and communicate how your brand helps make their lives better. Your content has to be more authentic and human as it relates value more than communicating a sale.
Relationships also mean that you are willing to take your customer by the hand, meet them where they’re at, and lead them to where they want to go. As stated earlier, if 150 customers come to your social media page, then you need to understand that over 90% of them don’t trust you yet. This lack of trust doesn’t mean that you should ignore them. Instead, it means that you should reach out to them and meet them where they’re at.
Eventually, when you optimize relationships, you get to build on value and trust. This approach helps to not only scale your business but also to ensure your business endures in the market. Instead of tricking algorithms into showing your bad content to more people, make it your aim to work on building a relationship.
Consistency, transparency, simplicity, specificity, and accountability are the keys here. So if a company wants customers who are crazy about their brand, then they have to treat their audience/customers like actual humans who they actually care about, rather than a number or algorithm.
If you want to go through the exact process George Bryant uses with companies from pre-revenue all the way to $38 billion… to create a compelling brand with unforgettable marketing campaigns… you can sign up for his FREE 7-day Lighthouse Blueprint challenge… where you will:
- Discover the myth that causes over 90% of business to fail (literally, that’s an actual stat!)
- Learn to clearly map out your customer journey so you can turn “viewers” into “loyal customers”
- Understand the 3 elements of a highly successful online business (hint: we’ll teach you how to sell stuff people want!)